Fiserv pushes online bill payment

Source: Fiserv

Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, is reminding consumers that they can "go green to save green" this spring by receiving and paying bills online.

Saving money is seasonless, and with Earth Day and Arbor Day approaching, it's the perfect time for consumers to go green by taking their personal money management online. As an added incentive, more than 25 financial institutions across the country will encourage their account holders to make the switch to online bill payment by planting a tree in a national forest for each bill paid online during April and May. This is the third year in a row that Fiserv has partnered with financial institutions and the Arbor Day Foundation to plant trees.

The average household that replaces traditional payments with online bill payments could save more than $50 per year on postage and five hours of time writing checks and stuffing envelopes. Reducing the need to purchase checks, envelopes and gas to drive to and from the post office provides additional cost savings.

"Consumers who manage their day-to-day finances online not only save time and money, they also help the environment," said Geoff Knapp, vice president of consumer marketing and analytics, Electronic Banking Services, Fiserv. "Fiserv is working alongside financial institutions and organizations such as the Arbor Day Foundation to encourage consumers to replace paper bills and statements with electronic versions."

In addition to delivering savings and convenience, the environmental benefits of paying bills online can be substantial. According to the PayItGreenTM Alliance, a coalition of financial services companies that includes Fiserv as a founding member, each U.S. household that switches to electronic bills, statements and payments could save 6.6 pounds of paper and conserve 4.5 gallons of gasoline used to transport these documents each year. If every household chose paperless bills and statements it could save an estimated 18.5 million trees and eliminate the production of 2.1 million tons of greenhouse gases.

Consumers can calculate how much money they could save by switching to online payments, as well as the environmental benefits, at The site also lists companies that offer paperless electronic bills, which contain the same information as a paper bill, but are received online at a consumer's financial institution or a billing company website. In a Fiserv survey of consumers who chose to receive electronic bills, 58 percent said preserving the environment was an important factor in their decision.

"By switching to online bill payment, consumers can reduce the environmental impact of producing and mailing traditional bills," said Kevin Sander, director of corporate partnerships, the Arbor Day Foundation. "Most financial institutions in the U.S. offer electronic billing and payment capabilities, and we hope that this is the beginning of a successful year in which more consumers then ever before switch to online payments."

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